Rupee slips 15 paise to 74.55 against U.S. dollar in early trade

On November 24, the rupee had closed at 74.40 against the U.S. dollar

Mumbai: The Indian rupee depreciated by 15 paise to 74.55 against the U.S. dollar in opening trade on November 25, as a muted trend in domestic equities and a firm American currency weighed on investor sentiment.

At the interbank foreign exchange, the rupee opened on a weak note at 74.55, registering a decline of 15 paise from the last close.

On November 24, the rupee had closed at 74.40 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14% to 96.74.

Global oil benchmark Brent crude futures advanced 0.09% to $82.32 per barrel.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth ₹5,122.65 crore, as per exchange data.

On the domestic equity market front, the 30-share Sensex was trading 15.74 points or 0.03% lower at 58,325.25, while the broader NSE Nifty declined 30.10 points or 0.17% to 17,384.95.

The Indian rupee started on a weaker note this early November 25 morning trade tracking the strength of the dollar, Reliance Securities said in a research note.

The dollar rose in the previous session lifted by hawkish Federal Open Market Committee (FOMC) minutes and upbeat data in the U.S.

"Asian currencies and equities were trading mostly weaker this early Thursday morning and will weigh on sentiments," the note added.

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